Eros (EROS) Mentioned Cautiously at Asensio.com
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
"EROS justified their cash flow positive status by proclaiming that this was a result of an increase in their operating cash flows. However, EROS was only able to do this by factoring $39.03 million dollars of accounts receivables, which went into their operating cash flow ... if EROS had not factored their receivables, they would have reported a negative free cash flow of $16.2 million," said Asensio.
"Upon analysis, it seems that the same highlights that were deemed attractive to investors turned out to be a confirmation of EROS’s worst-case scenario," the short seller added.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Twitter (TWTR) Shares Continue Rising, Break Above $18
- Volatility and Volume movement
- Shire plc (SHPG) Sees Weakness
Create E-mail Alert Related CategoriesShort Sales, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!